Will the government’s move to demonetise Rs 500 and Rs 1,000 currency notes improve the balance sheet of Reserve Bank of India (RBI)? To understand this scenario, you must learn the interplay of currency, reserve money and money supply. What is currency in circulation? It is the total value of currency (coins and paper currency) … Read moreCurrency in Circulation vs Reserve Money vs Money Supply
You might have seen news headlines like “Indian rupee falling” or “Rupee falls to Rs.65 against US dollar”. Have you ever wondered why rupee is falling? Who fixes the value of Indian rupee as Rs.65 per 1 US dollar? Let’s us discuss in this post a few confusing but evergreen concepts in economics related to … Read moreRupee Devaluation or Depreciation: How does it affect Export and Import?
What is REPO rate? REPO denotes Re Purchase Option – the rate by which RBI gives loans to other banks. In other words, it is the rate at which banks buy back the securities they keep with the RBI at a later period. Bank gives loan to the public at a higher rate, often 1% … Read moreREPO and CRR Rate – What Should You Understand for WBCS Exam?
Inflation is defined as a situation where there is sustained, unchecked increase in the general price level and a fall in the purchasing power of money. Thus, inflation is a condition of price rise. The reason for price rise can be classified under two main heads : (1) Increase in demand (2) Reduced supply.Inflation explained … Read moreInflation : Definition, WPI, CPI, Measurement and Causes
A clear understanding of Indian Economy can help you in more than one way. As almost every problem has an economic angle, knowledge on the performance of various sectors of Indian Economy gives you always an opportunity to see things in a wider perspective. Having posted many articles on the economics, covering topics like basic concepts, inflation, fiscal … Read moreIndian Economy Overview: Primary, Secondary and Tertiary Sectors
Basic Concepts of Economics Economics seems tough nut to most of the WBCS (Exe) aspirants. If I throw terms like GDP, NDP, NNP, REPO, Reverse REPO, SLR, CLR, CRAR etc towards a non commerce background student than economics will become nightmare for him. But believe me if you understand the basic terms and meanings than … Read moreBasic Concepts of Economics (Important for WBCS Exam)
1. As long as the process of judicial appointments remains opaque, selection of judges on considerations other than merit will continue 2. Too many vacancies in the High courts in India As of June 2013, there were 276 vacancies out of a total sanctioned strength of 904 permanent and additional judges in all the High … Read moreJudicial Appointments in India
Status of Fundamental Rights in India vis a vis US 1. Restrictions: Indian Constitution itself puts the restrictions on the fundamental rights. In India the power to restrict fundamental rights has been expressly conferred upon the legislature by the Constitution , judiciary has only a judicial review. US rights were absolute and it was only later that judiciary … Read moreFundamental Rights under the Constitution of India
The Citizenship Act, 1955 lays down following types of citizenship: 1. By birth: If one is born in India and ≥ 1 parent is Indian. 2. By descent: If either of one’s parents had Indian citizenship before the commencement of Constitution. The birth has to be registered in embassy of India. Descent citizenship is as of right. 3. … Read moreWho are Indian Citizens
Amending the Constitution of India is the process of making changes to the nation’s fundamental law or supreme law. The procedure of amendment in the constitution is laid down in Part XX (Article 368) of the Constitution of India. This procedure ensures the sanctity of the Constitution of India and keeps a check on arbitrary … Read moreConstitutional Amendment